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Published on November 23rd, 2022 📆 | 4343 Views ⚑


Kumho Petrochemical partners with Technip Energies leveraging Agilyx Technology · First recycled styrene commercial development led by Technip


OSLO, Norway - November 23, 2022 - Agilyx ASA (OSE: AGLX; OTCQX: AGXXF)
("Agilyx" or "the company"), a technology company that enables customers to
recycle the most challenging post-use plastics to high value, virgin-equivalent
products, is pleased to announce that Kumho Petrochemical (Kumho) and Technip
Energies (T.EN)  have signed an MOU to produce recycled styrene (RSM) using its
patented conversion technology. 

This MOU follows the previous announcement of an RSM project utilizing Agilyx
technology and outlines a cooperative relationship between the two parties
working toward successful licensing of Agilyx's conversion technology and the
construction of an RSM production plant in South Korea. RSM is obtained from
pyrolysis of waste polystyrene and can be used as a direct replacement for
styrene produced from traditional fossil-based sources.  It is anticipated that
Kumho will use RSM in the production of solution styrene-butadiene rubber
(SSBR), a key component for the manufacture of tires, including for the large
volume, high-performance tire segment. 

Kumho's stated goal is to commercialize RSM products beginning in 2026. T.EN,
the exclusive licensor for polystyrene pyrolysis enabled by Agilyx technology,
will provide support in all tasks including the transfer of a technology license
to Kumho. 

About Agilyx
Agilyx ASA is a technology company that enables customers to recycle
difficult-to-recycle post-use plastics to high value, virgin-equivalent
products. With a focus on diversion and conversion of plastic waste, Agilyx is
uniquely positioned with a molecular recycling technology offering and an
integrated feedstock solution by way of Cyclyx, an innovative feedstock
management consortium of partners that drives up global plastic recycling rates
by chemically fingerprinting plastic waste and matching it to appropriate
recycling processes. Agilyx was the first to establish a commercial scale closed
loop plastic-to-plastic chemical recycling facility and holds over 17 patents.
Agilyx conversion technology utilizes pyrolysis without a catalyst and can
convert mixed waste plastic to naphtha and fuels or depolymerize specific
plastics such as polystyrene and PMMA (acrylic) back into virgin-quality
products. Learn more at www.agilyx.com. 

Kate Ringier
VP, Communications & Government Affairs
+ 41 43 883 0396

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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